You Are Not a Loan in the Need for a New Car

Summary

---

It's a fact. Very few of us are rich enough to afford a decent car without a lender's help. And, writes Ray Castle of motors.co.uk, in the excitement of getting a shiny new motor, it's too easy to think little about where the money's coming from. So long as it's there, it's tempting to take the first loan you're offered.

Stop. Not only will a cool head and a little research save you, potentially, hundreds of pounds, it could also mean that you can afford a far better car than you'd imagined. If you're buying for yourself, there are three main types of loan to consider: Hire purchase You pay a deposit, followed by regular and equal monthly payments over an agreed span of time until the debt is repaid. Hire purchase is simple and is often the cheapest of loans, particularly if you plan to keep the car for some years. The main thing to remember is that the car belongs to the finance company until you've paid for it in full. They can and will snatch it back if you stop paying.

See the full content of this document

Extract

---

You Are Not a Loan in the Need for a New Car

Contract Plan, or PCP Usually offers the cheape...

See the full content of this document

---